Apis Capital Advisors LLC Has $3.72 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Apis Capital Advisors LLC increased its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,600 shares of the company's stock after acquiring an additional 3,200 shares during the quarter. Impinj makes up 2.5% of Apis Capital Advisors LLC's portfolio, making the stock its 13th biggest position. Apis Capital Advisors LLC owned 0.09% of Impinj worth $3,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PI. Capital International Investors grew its position in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares in the last quarter. Norges Bank acquired a new stake in shares of Impinj during the fourth quarter worth $40,100,000. Raymond James Financial Inc. purchased a new position in shares of Impinj in the fourth quarter worth approximately $27,699,000. Price T Rowe Associates Inc. MD lifted its position in shares of Impinj by 244.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company's stock worth $31,825,000 after purchasing an additional 155,543 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Impinj by 272.6% in the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company's stock valued at $28,105,000 after buying an additional 141,554 shares during the period.

Impinj Stock Down 2.0 %

PI stock traded down $1.95 during trading on Tuesday, hitting $96.51. The company had a trading volume of 317,277 shares, compared to its average volume of 587,964. The firm has a 50-day moving average price of $84.81 and a 200-day moving average price of $130.69. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 70.96 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The company had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the business posted $0.21 EPS. The firm's quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PI shares. Piper Sandler reduced their price target on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC decreased their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Susquehanna decreased their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the sale, the chief operating officer now owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company's stock, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,857 shares of company stock worth $1,665,290. 51.00% of the stock is currently owned by company insiders.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.